The Hanoitimes - The development of digital economy will benefit Vietnamese state regulatory agencies and enterprises. For the development of digital economy, it is necessary to have legal regulations for state management agencies to become the pioneers in digital transformation, local economist Dinh Trong Thinh suggested. An automatic production line at Rang Dong factory. Photo: Thuy Linh The digital economy is undergoing a huge transition and digital transformation has become more and more necessary and must be promoted in the fields of production, business, and social management. The number of state agencies and ministries which have actively implemented the digital transformation is small. According to Thinh, these agencies need to have their own plan and roadmap for digital transformation. Local banks play an important role in promoting digital transformation but have not drastically applied digital technology, thereby slowing down the transformation of a number of local enterprises. Banks and public service providers have to be at the forefront of digital technology, which forces local businesses to adapt to this trend, Thinh said. Although information technology infrastructure has been improved in the recent time, the level of application in social life, especially in payment and social management, is still limited. Most small and medium enterprises have yet to apply information technology to their business activities due to limited capital and human resources, said Thinh who suggested that state agencies should give priority to investment in and development of information technology infrastructure such as expanding free public WiFi in big cities. "This is a mandatory change and an opportunity, especially for local enterprises, that the 4th Industrial Revolution brings to Vietnam. The digital economy will help the country have new resources to change people’s lives for the better. The country that seizes …
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